One Year On...
Spextacular had been trading for one year in October 2006 and Chris, the proprietor, took the time to reflect on her experiences as an entrepreneur. There had been many highs and some lows during the twelve months but Chris had no regrets about setting up and was enjoying the challenges of running her own business. She discovered her original sales projections in her Business Plan were wildly optimistic. However, she has been doing enough trade to cover costs and keep afloat. She has also received many positive comments from her customers, delighted with the product and service they receive and this has boosted her confidence in the business and what it is seeking to offer. Word of mouth and other publicity are spreading the Spextacular name and online sales are creeping up.
Chris is aware that it took Amazon seven years to go into profit and so she is satisfied with her business' progress to date. Two out of three new businesses fail in the first three years, so this is a critical time for her business. Chris is constantly looking for ways to promote her business and generate sales and must stay focussed on providing the excellent standard of product and service Spextacular is now known for.
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